The Bank of Nova Scotia Downgraded to Neutral at Credit Suisse (BNS)
The Bank of Nova Scotia (NYSE:BNS) was downgraded by analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of The Bank of Nova Scotia (NYSE:BNS) opened at 66.17 on Wednesday. The Bank of Nova Scotia has a 52 week low of $53.94 and a 52 week high of $68.71. The stock’s 50-day moving average is $67.2 and its 200-day moving average is $62.49. The company has a market cap of $80.507 billion and a price-to-earnings ratio of 13.69.
The Bank of Nova Scotia (NYSE:BNS) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.41. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts predict that The Bank of Nova Scotia will post $5.57 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BNS. Analysts at Barclays reiterated an “equal weight” rating on shares of The Bank of Nova Scotia in a research note on Tuesday, August 19th. They now have a $74.00 price target on the stock, up previously from $72.00. Analysts at CIBC upgraded shares of The Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The Bank of Nova Scotia currently has a consensus rating of “Buy” and an average target price of $68.50.
The Bank of Nova Scotia (NYSE:BNS) is a diversified financial institution.
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